Since then things have progressed resulting in the creation of Russia’s own payment network called the ‘System for the Transfer of Financial Messages’ (Russian acronym SPFS) after Western countries tried to cut Moscow off from the SWIFT payment system in 2014 due to the crisis in Ukraine.
Eight foreign banks have connected to Russia’s SPFS financial transfer system and already three connections are fully operational, with another five more connections making the necessary technical preparations, according to Alla Bakina, director of the Russian Central Bank’s national payment system.
“We have provided the opportunity for foreign banks and legal entities to connect to SPFS. The system has around 400 users, interfacing with eight foreign entities,” Bakina said, while speaking at a banking and retail forum in Moscow on Wednesday (Sept. 2).
“Three foreign banks are already included in the user directory and are up and running, while others, having concluded an agreement, are carrying out the technical procedures for joining, engaging in testing, etc. First off all, [these banks are from the] Eurasian Economic Union,” Bakina noted.
She highlights that SPFS has grown over the past year, with traffic accounting for about 15 percent of that of SWIFT inside Russia, up from 10-11 percent in 2018.
The European Union and China are also creating their own SWIFT payment alternatives.
Max: …The end of neoliberalism, if you think about it. The reason why gold again went sideways is because of the triumph of Thatcherism and Reaganism. And they got people to believe to dump gold and buy financial assets and lever those financial assets up in this nirvana of perpetual returns with no risk. And now that has come to a close.
The era of neoliberalism, that Thatcher and Reagan era is finished. We are going back to mercantilism. We are going back to different countries around the world all competing aggressively. China and the US now competing very aggressively and that mean gold is in play as a world reserve currency and the [US] dollar is on the down slope.
Stacy: …We have had credit. Essentially fiat for thousands of years and debt, and we have gold. What happens why we return to gold, is when there’s no trust in the [financial] system. And so there’s an absence of trust. You see it in these burgeoning trade wars. You see it in the game theory – …nations calling other nations bluff. That happened in the late 1960s up until we went off the gold standard in 1971 when Charles de Gaulle government kept calling the United States bluff on whether or not they can pay back all their trade deficit and the gold they said they had. The same is happening now between China and the US. …And China is accumulating massive amounts of gold for this reason.
Max: …The end of neoliberalism. But it is also the end of globalization. We are entering a period of de-globalization and de-dollarization. The globalization requires trust – all the G7 and the G20 nations trusted each other and all the central banks working in harmony to create low rates to help the shysters and the banksters, at the expense of the workers. Now that’s reversing.
BATTLE FOR WORLD / RT | September 25, 2019: Ajamu Baraka, –In the past, the mythology was that the Democrats were the ones who were advocates of peace and the Republicans were the advocates of war and militarism, but that has been turned on it’s head. We are seeing that in fact, it is the Democrats and the liberal Democrats specifically who seems to be very in favor of an aggressive US foreign policy.
There is a bipartisan agreement to maintain the US global hegemony. So when it comes to issues of attacks on various nations, sanctions, destabilization and even direct military intervention, there is very little military debate [among both political parties] and the only debate we see is shown to the public by the major networks warmongering for US policies. This is the objective reality today that both parties appear to be in support of the basic idea that the US has a right and responsibility to intervene anywhere on the planet and use its military to advance its national interest with no opposition coming from the congress or even the public.
The Military Industrial Complex who buy off the politicians, people who should be representing the voters, and the result is 6 trillion dollars being spent over the last eighteen years on wars by the United States government…and the lion share is going to defense contractors and so war has become a big business, because there’s no real opposition from our representatives. And the consequence of that, is that the people of the planet have been suffering tremendously from these wars.
And domestically [in the US] it means that the kinds of resources that should be there to address issues of employment and healthcare; childcare, cleaning up the environment, etc., have instead been squandered by authorities of the state in these endless wars. What’s the objective? The wars are to expand and maintain US global hegemony.
The public will have to demand from their representatives that they take a stance on where they are with this issue of war and militarism. If not, we will continue to see the normalization of war and the continue squandering of the public precious resources in order to advance the interest of the ruling elites – [who appears to be stuffing all the ill gotten profits in their “family offices” money management firms, –BattleForWorld].
BATTLE FOR WORLD / RT | September 20, 2019: Russia is reducing the volume of investment in US government debt, fell in July 2019 to its lowest level in 12 years. Russia buying US bonds decreased by almost 35 percent since the start of the year. China is showing a similar pattern of divestment.
The Russian central bank move is to secure the country’s foreign reserves. The bank is also exchanging US Dollars for Euros. According to analysts the yield of US government bond is declining so investment in US treasury securities is becoming less attractive to foreign investors.
BATTLE FOR WORLD / THE HILL | September 3, 2019: With the current uncertainties and worries in the world’s financial markets the mood swing is clearly being felt all over. And has investors fleeing into assets that are said to be safe, firstly, gold, secondly, U.S. Treasuries, and thirdly, the dollar because of the petro-link. They still flock to the U.S. on a massive scale for the reason of the petrodollar, whereas a lot of the current insecurity derives directly from the White House – the tariff war, etc.
And we are seeing more and more opinions expressed around the question of whether a shift is taking place – slowly but surely, from the dollar toward other currencies.
JPMorgan recently expressed the opinion that “We believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments.” And this month (September), the Bank of England Gov. Mark Carney revealed that the US dollar status as a hegemon is putting the global economy under increasing strain and needs to end. And that the dominance of the dollar is being questioned is not surprising at the present juncture due to events unfolding.
The story evolves around a friend whose relatives in Germany converted some of their not insubstantial family wealth into gold bars and buried them in the woods of Bavaria at a time before negative interest rates – the old way of protecting their money. But with today’s uncertain global economy, mistrust of the financial system in general, people are thinking of ways to protect their money. Highlighting the need on the part of the wealthy to hoard cash and it is increasingly frustrating wealth managers who would rather invest that money.
Wealth managers are nervous with the uncertain environment in the global economy and the outlook for equities are why clients are keeping their powder dry. And fears over the trade war between the US and China have led some investors increasing their cash holdings diversifying their portfolio was the best solution to a prolonged trade war, and 37-percent said holding cash was the answer.
BATTLE FOR WORLD / TASS | July 21, 2019: The article highlights Russia’s calls on the international community to move towards independence from the US-controlled international financial system and the US dollar as its key currency, Russian Deputy Foreign Minister Sergei Ryabkov said on Sunday (July 21).
At the international conference in support of international law, he said: “We must protect ourselves from political abuses made with the help of the US dollar and the American banking system.” And that: “We must turn our dependence in this sphere into independence. Let us be multipolar in the spheres of finance and currency.”
BATTLE FOR WORLD / SPUTNIK NEWS | July 11, 2019: The article highlights that India says it is working with Russia to overcome payment issues for its strategic imports from that country. And the Deputy National Security Advisor of India, Ambassador Pankaj Saran noted that both sides are working on rupee-rouble trade to overcome a crisis caused by US financial sanctions.
And: “As part of the trading environment, there have been talks about trade in national currencies. This again is still a work in progress and we need to see how we can operationalise and move forward on this idea, because increasingly we see many countries in the world are taking recourse to trading in their own respective currencies”, said Saran, the Ambassador of India.
Moscow’s envoy to New Delhi Nikolay R. Kudashev noted that it is important to overcome major impediments to bilateral trade. And is moving ahead with a solution for this problem to solve speedily the operationalisation of the International North-South Transport Corridor, which would allow the infrastructure gap between both countries to be bridged.
(BattleForWorld: Things are moving ahead to bring about a new financial system transaction agreement among countries. The official unhooking from the West petrodollar is approximated to start in/after the year 2024.)
BATTLE FOR WORLD / SPUTNIK NEWS | July 7, 2019: The article highlights that Washington’s sanctions policy has prompted world players to start drifting away from the dollar, thus throwing the greenback’s top reserve currency status in jeopardy, says American economist Dr Paul Craig Roberts, an American economist and author of several books, and who has served as the United States assistant secretary of the Treasury for Economic Policy under President Ronald Reagan.
Says that while the Trump administration is turning all stones to “make America great again” and reports about the rapid growth of gross domestic product (GDP) and a plummeting unemployment rate, clouds are gathering on the horizon of the US economy and the dollar, says Dr Paul Craig Roberts. And that the Federal Reserve has manipulated the price of gold to prop up the US dollar over many decades giving the US financial power backbone in the dollar major reserve currency status which allowed the US to pay its bills by printing greenbacks.
Paul Craig Roberts: The US dollar’s reserve currency role is in jeopardy, because the sanctions Washington DC imposes are driving other governments away from the use of the dollar and the Western financial system. As the dollar’s role as reserve currency shrinks, so does the demand for dollars. As the demand for dollars falls, so will its exchange value. The Federal Reserve can print dollars with which to purchase financial assets such as stocks and bonds, thus supporting their prices, but the Federal Reserve cannot print foreign currencies with which to purchase dollars.
As global players turn their backs on the dollar by shifting to national currencies and using gold as a hedge, the US economy may find itself in great trouble, according to Roberts.
BATTLE FOR WORLD / SPUTNIK NEWS | June 14, 2019: The article highlights that a decision was made a few days after Russian President Vladimir Putin slammed the US dollar as a tool of pressure while speaking at the St. Petersburg International Economic Forum (SPIEF).
Russian Finance Minister Anton Siluanov and Maros Sefcovic, vice-president of the European Commission for the Energy Union, both have agreed to setup a working group that deals with transitions using the rouble and euro in bilateral payments, the Russian media outlets reported, citing Siluanov’s spokesman, Andrei Lavrov.
The Russia-EU agreement comes on the heels of remarks by Russian Economy Minister Maxim Oreshkin, who told Bloomberg TV last week (first week in June) that the greenback was gradually losing its share in the world market:
“China, Turkey and other major partners are increasing their share in euro, as well as Europe. The dollar is gradually and inevitably losing its share in the world market. This concerns not only Russia, but the whole world as well”, he said on the side-lines of the St. Petersburg International Economic Forum (SPIEF).
BATTLE FOR WORLD / SPUTNIK NEWS | June 6, 2019: The article highlights that several countries have started making arrangements on settlements in national currencies, dumping US Treasury holdings and boosting gold reserves as part of the growing de-dollarisation trend.
That the US dollar is gradually losing its share usage on the world market, says Russian Economy Minister Maxim Oreshkin to Bloomberg TV while on the side-lines of the St. Petersburg International Economic Forum (SPIEF).
“China, Turkey and other major partners are increasing their share in euro, as well as Europe. The dollar is gradually and inevitably losing its share in the world market. This concerns not only Russia, but the whole world as well”, said Oreshkin.
(BattleForWorld: The farewell dance is ongoing, moving away from the US dollar, as arrangements are being made to usher in the Multipolar world order of fairness into the years of 2020, and the abandonment of the One World / Unipolar world order ruled by the petrodollar and its supporting war madness and geopolitical trouble-making always calling for bloodletting.)
BATTLE FOR WORLD / RT | May 25, 2019: The video highlights that the US State Department says it’s expecting new chemical attacks by Syrian president Bashar al-Assad – and is promising a ‘quick response.’
And how US presidents when seeking election run on the platform of peace, but after elected to office, they are on the war footing.
Trump said during his presidential campaign, no more wars, but the opposite has happened after he was elected – increased hostilities and the atmosphere for MORE WAR!!!
BATTLE FOR WORLD / TASS | April 19, 2019: The article highlights that the unreliability of the American currency is evident in the conditions that have emerged on world markets as a result of US actions, said the Russian Foreign Minister Sergey Lavrov on Friday (April 19) meeting with members of the International Council on Cooperation and Investments.
That stability is important for business and “We are trying to pursue a constructive unifying foreign policy course, which is primarily aimed at providing the most favorable conditions for cooperation with foreign partners on a mutually beneficial basis,” but that “unilateral sanctions, which bypass the UN Security Council under a false pretext, hinder the process,” said Lavrov.
The minister noted that sanctions are increasingly being used under the pretext of “punishing the wrong political behavior of one country or another” and as become an “unfair competition method,” which leads to trade wars and extraterritorial application of national legislation.
BATTLE FOR WORLD / SPUTNIK NEWS | April 5, 2019: The article highlights that the No Oil Producing and Exporting Cartels Act (NOPEC) introduced by the US Congress in 2000 to combat OPEC’s price regulation, but the bill never made it into law. However, prior to being elected president of the United States, Donald Trump expressed vocal support for the bill in 2011.
Riyadh has plans to switch its oil trade away from using the dollar to other currencies if the US passes the NOPEC bill, which would extend American anti-trust laws to foreign entities such as OPEC, Reuters reported, citing three anonymous sources familiar with Saudi energy policy. This “nuclear option” was recently discussed by senior Saudi energy officials and even expressed to the US. And one of the Saudi sources said: “Let the Americans pass NOPEC and it would be the U.S. economy that would fall apart.”
The Reuters news agency noted in the article that abandonment of the dollar by a major oil exporter like Saudi Arabia, potentially could lead to a reduction in US role in global trade and its overall ability to force policies on other states using sanctions. Riyadh is responsible for around a 10th of global oil production.
BATTLE FOR WORLD / TASS | March 7, 2019: The article highlights that Russia’s Gazprom Export has successfully completed it’s first deal on gas sales to Western Europe priced in rubles on the Electronic Sales Platform, the company said in a statement on Thursday (March 7).
“The deal is a balance-of-month with NCG (German hub) delivery point. The volume of gas sold is about 80 mln cubic meters,” in a statement from Gazprom. And said: “today’s test deal has not just commercial but a highly symbolic meaning.”
“For the first time in Gazprom Export’s history, a western European company buys gas and pays in rubles for it. So far it would be too early to provide any long term forecasts. Still we plan to further develop sales in rubles through our Russian Electronic Sales Platform,” said Burmistrova of Gazprom.
Davos…ended and who did not attend include the US President Donald Trump, Emmanuel Macron of France, Theresa May the Prime Minister of the United Kingdom, because there’s domestic uprising in all of those places and domestic chaos. Their governments in problems: The United States government shutdown; Macron is facing the end of his government; and May is facing the end of Britain as we know it.
All this is playing into the big theme of de-dollarization and de-globalization, and Davos is a huge organization for globalization. All the big globalizers, they go to DAVOS and talk about their globalist agenda. But because we are in a de-globalization and de-dollarization era, naturally these folks don’t go to DAVOS because it has outlived its purpose.
(BattleForWorld: This is an admission that the said countries are aware that the financial collapse and shift is well on the way against what was pushing ahead around the world in chaos form called globalization.)
The prediction is that come 2020 there will be a no Davos held; not as we know it, perhaps it maybe occupied by the Gilets Jaunes (Jelay Jun) in France, the Indignados in Spain and the Deplorables in the United States. (BattleForWorld: Implying that it might take on a social face of healing the world.) Davos will be for hasbeens and jerks in its current form. We are heading into the Twilight of the Elites – the end of their days.
The scam by the globalists is to manage social movements and protests endorsing them using celebrities, actors, the media and the intellectuals, but none of them approve of the Gilets Jaunes (referring to the French protesters protesting social inequalities, etc.).
The elites do not understand the cultural divide because they are so cozy away from the people. And the closest they will get to the people is by using celebrities, actors, the media and the intellectuals.
The globalists use the United Nations to push their geopolitical agenda for the people to accept relentless wars, etc. and use celebrities…to push their social justice warrior movement. These acts are referred to in code as “virtue signalling”. Where the use of prestige is given a moral face to push social causes or elevate standing, but behind it hides deception – some type of scam.